Bitcoin's price remained steady but did not reach $115,000 ahead of Fed Chair Powell's speech, amid concerns highlighted by recent FOMC minutes about inflation, tariffs, and the labor market.

Short-term factors influencing XRP include headlines related to XRP-spot ETFs, adoption of XRP Treasury Reserves, Ripple's US bank license application, SWIFT updates, and the Market Structure Bill.

On-chain data shows a significant whale accumulation, with 900 million XRP bought within 48 hours—the largest since June 2025—highlighting strong market optimism about potential ETF approval.

Bullish scenarios for XRP include ETF approvals, Ripple's OCC bank license, increased Treasury Reserve demand, bipartisan support for the CLARITY Act, or Ripple gaining market share from SWIFT, potentially pushing XRP above its all-time high of $3.66.

August saw a net outflow of $0.749 billion from US Bitcoin spot ETFs, ending a four-month inflow streak, with institutional demand remaining crucial, and Bitcoin's price falling 0.57% on August 31 to $108,172, ending August with a 6.51% decline.

The US crypto-spot ETF market experienced significant outflows totaling over $523 million in August, reflecting investor unease amid macroeconomic uncertainties, with notable outflows from major funds like ARK 21Shares and Fidelity.

Bearish outlooks for XRP include legislative setbacks, weak demand for Treasury Reserves, rejection of Ripple's bank license, or disapproval of XRP-spot ETFs, which could lower the price to around $2.50.

Upcoming US labor market reports, including JOLTs, ADP, and the jobs report, are expected to significantly influence market sentiment, with strong data potentially weighing on Bitcoin and weaker data boosting demand.

BlackRock's recent meeting with the SEC's Crypto Task Force and subsequent filings suggest a coordinated effort to establish a standardized framework for crypto ETFs, which could pave the way for approval of XRP and other digital assets.

XRP's current price is $2.7763, having declined 8.15% over five sessions in August, underperforming the broader crypto market, which only declined 0.45%, amid a recent surge in whale activity indicating strong market optimism.

October is seen as a critical month for XRP's price, with broader legislative, macroeconomic, and Bitcoin price trends shaping investor sentiment.

The potential approval of US spot crypto ETFs is increasingly likely after the Court of Appeals' decision to withdraw appeals, with ongoing SEC discussions involving major exchanges like BlackRock, Cboe, Nasdaq, and NYSE.

Bitcoin's price closed at $114,306 on August 20, with future movements heavily influenced by Fed policy signals, US economic data, and ETF flows, with scenarios outlining potential bullish targets up to $123,731 or bearish drops to $110,000 depending on upcoming developments.